Home » Archive for July, 2010
Bank of America Corp (NYSE: BAC) Launches New ETF Algorithm
Bank of America Corp (NYSE: BAC)’s Merrill Lynch division has launched a new “premium algorithm” for ETF trading called “ETF-aX”. Merrill Lynch says that their new algorithm “analyzes market depth and price data across... More of this article »
Goldman Sachs (NYSE: GS) Threatened with Audit from Financial Crisis Inquiry Commission
The Financial Crisis Inquiry Commission is threatening to bring in outside accountants to audit Goldman Sachs Group Inc. (NYSE: GS)’s bank systems for data on its derivatives business, the panel’s chairman said. Goldman Sachs Group... More of this article »
Citibank (NYSE: C) Offering Some Free Checking Accounts
Citigroup, Inc (NYSE: C) recently changed some of the ways that fees for its “EZ Checking” and “Access Checking” accounts can be waived. The New York-based bank is now charging monthly fees to customers of EZ Checking that... More of this article »
Wells Fargo & Co. (NYSE: WFC) to Hire 50 Employees in Santa Clara County, CA
Wells Fargo & Co. (NYSE: WFC) announced on Monday that it plans on making 50 new hires in Santa Clara County, CA. The San Francisco-based bank has more than 2,000 employees and 62 offices in the country which many know as Silicon... More of this article »
Sierra Club Accuses Exxon Mobil (NYSE: XOM) of Violating Clean Air Act
The Sierra Club has accused the largest U.S. oil refinery, owned by Exxon Mobil (NYSE: XOM), of violating the Clean Air Act and other pollution laws thousands of times during the last five years, allegedly releasing more than 10 million... More of this article »
Ford Motor Co. (NYSE: F) CEO Cautiously Optimistic on Growth
Ford Motor Co. (NYSE: F) CEO Alan Mulally said on Monday that his company is “cautiously optimistic” that it will continue to grow as the U.S. economy slowly recovers. “This is a slower recovery from the previous recessions,”... More of this article »
U.S. Treasury Resumes Sale of Citigroup Shares through Morgan Stanley (C,MS)
The U.S. Treasury is resuming sales of its Citigroup, Inc (NYSE: C) stock after suspending the efforts at the end of June during what the government entity called a “blackout period” before the New York-based bank’s second quarter... More of this article »
Lloyds (LON: LLOY) May Sell 140 Million GBP in Retail Assets
Lloyds Banking Group PLC (LON: LLOY) may sell as much as 140 million GBP worth of retail assets, according to a report from the Mail on Sunday, citing anonymous sources. The firm wrote that Legal & General Property may buy the... More of this article »
Was Goldman Sachs (NYSE: GS) the Biggest Winner in the AIG Bailout?
When American International Group failed, the financial system de-stabilized and some firms were thrust into a panic amid the dust. Now, the picture becomes more clear on exposures, and protection plans that were in place. Recently... More of this article »
Goldman Sachs (NYSE: GS) Retains Right to Issue IPO’s
Goldman Sachs (NYSE: GS), a major player in the IPO market received important news: they remain a qualified issuer. After the firm agreed to settle a fraud case with the Securities and Exchange Commission, doubts were raised if... More of this article »
European Stress Tests Yield Positive Results
Following the collapse in the banking sector, the European regulators kicked off a stress test, designed to examine and better understand the safety of the banking sector, and likelihood of a recurrent collapse. As the exam is now... More of this article »
Earnings Season Review for JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C), and More
We have now reached the end of earnings season for the major banks, so looking back on the results collectively is now appropriate to assess collective performance. Earnings season can be a rally cry for a bull market, or a deadening... More of this article »
Revised Volcker Rule Being Given Early Test by Citigroup (NYSE: C)
A recent article for Fortune magazine’s “Street Sweep” cites three examples of how Citigroup (C) is liberally interpreting the new Volcker rule. Selling a $3.5 billion real-estate fund to Apollo Management and a $4.2 billion... More of this article »
Bank of America Corp (NYSE: BAC) to Enhance Wholesale Banknotes Platform
Bank of America Corp (NYSE: BAC)’s Merrill Lynch division announced on Friday that it would be enhancing its wholesale bank notes platform that it provides to clients, which will have “greater customization and improved functionality,... More of this article »
JPMorgan Chase & Co. (NYSE: JPM) to Invest $1 Million into Phoenix Neighborhood
JPMorgan Chase & Co. (NYSE: JPM) has announced a $1 million investment during 2010 to two struggling Phoenix neighborhoods dealing with poverty, unemployment and low graduation rates. “In supporting two of our most challenged... More of this article »
Pay Czar Says Citigroup, Inc (NYSE: C) is “Worst Offender” in Executive Compensation
Treasury Department Pay Czar Kenneth Feinberg criticized 17 companies on Friday, which received federal bailout funds, for handing more than $1.6 billion in excess compensation at the height of the financial crisis, adding that Citigroup,... More of this article »
Wells Fargo & Co. (NYSE: WFC) to Expand Elder Services Operations
Wells Fargo & Co. (NYSE: WFC)’s Wells Fargo Private Bank is expanding its “Elder Services” program to the east coast. The program, designed to serve as a premium wealth and life management solution for senior customers, aims... More of this article »
Citigroup (NYSE: C) and JPMorgan (NYSE: JPM) Sold Goldman Sachs (NYSE: GS) Insurance Against AIG Failure
JPMorgan Chase & Co. (NYSE: JPM) and Citigroup, Inc (NYSE: C) are among the list of banks which sold Goldman Sachs Group Inc. (NYSE: GS) insurance against the failure of American International Group (AIG), according to a report... More of this article »
100 Examples That Show Regional Banks are Still Suffering
Community Security Bank, based in New Prague, Minnesota was closed by government regulators Friday, the Federal Deposit Insurance Corp. said. It brought the total number of bank failures in 2010 to 101. It also continues a pattern.... More of this article »
Citigroup, Inc (NYSE: C) Cuts Growth Forecast for U.S. and China
Citigroup, Inc (NYSE: C) analysts reduced its growth forecast for China to 9.5% for all of 2010, down from the firm’s previous estimate of 9.6% and reduced its estimate on the U.S. from 3.2% to 2.8%. The report said that China’s... More of this article »
McDonald’s (NYSE: MCD) Posts Strong Q2 Earnings As Sales Rise Worldwide
McDonald’s (NYSE: MCD) posted a 12 percent rise in second quarter earnings as sales were strong worldwide, with Australia and China leading the way. The fast-food giant said quarterly earnings were $1.23 billion or $1.13 a share,... More of this article »
U.S. Treasury Department Confirms Planned Sale of 1.5 Billion Shares of Citigroup (NYSE:C) Common Stock
The U.S. Treasury Department today announced that it will make a pre-arranged sale of Citigroup (C) common stock. This is the third such sale Treasury has conducted since taking a 27% stake in Citigroup through the Troubled Asset Relief... More of this article »
Lending Club: What Types of Loans Are Available to Borrowers
If you’re hoping to get an unsecured loan or a personal loan, Lending Club might be a great way to get a better interest rate than what you would have gotten from a bank. Many have also used Lending Club loans as consolidation loans... More of this article »